Lead Management In CRM: How To Generate The Maximum Conversion From Prospects

Definition
When we talk about lead which is sometimes referred to as prospects, they are people that are likely to be interested in your products or services.

 

They are the set of people that will finally become your customers.

 

 
Definition
When we talk about lead which is sometimes referred to as prospects, they are people that are likely to be interested in your products or services.

 

They are the set of people that will finally become your customers.

 

 

Because of the relevance of lead to the development of your organization, you need to properly manage them so that, you don’t lose them to your competitors.

 

There are some basic things that you need to know about your leads because it is when you understand some of these details that you can meet them at the right place with the right products and services.

 

At the end of this article, the reader should be able to appreciate: What Lead Management is What you need to know about your leads What Account Management is

 

 

Capture of Lead Information
As a salesperson or sales manager, you need to have the contact details of your lead: you must also know their area of interest.

 

It is when you know this that you can package products and services that will satisfy their interest. You also need to know the source of lead: that is how the person or person(s) heard about your organization.

 

Also, you must be able to have metrics to measure the success of your organization as far as lead conversion is concerned.

 

 

Details Capturing
You must have a record of details of your interaction with your leads, so as to monitor them and know how far you are working towards their conversation.

 

The organization is to monitor all phone calls, emails and meetings that lead to the conversion of the leads to a customer.

 

 

Leads Qualifications
When we talk about leads qualification, we are saying that as an organization, you don’t have to entertain every dick and harry.

 

You must have some predetermined rules that specify what conditions a prospect must satisfy before they can qualify to become your customer. For example, not everybody n Nigeria can afford to buy a car.

 

Therefore a car dealer that is busy pursuing a man that could hardly afford three-square meals is chasing a goose.

 

Lead Allocation
Under SFA, we have said the organization needs to have an application that automatically distributes leads to sales agents or resellers who monitor things and make sure that their needs are met.

 

 

You should know that leads management in any organization are organized based on the needs of the organization.

 

 #1 Account Management

Account management is an application and process that helps salespersons and sales managers to handle individual corporate accounts with the organization. It allows the organization to monitor how each consumer with the organization are faring and follow – up on them appropriately.

 

This is mostly used in business to business (b2b) relationship in any organization.

 

 

This accounts that are being managed, apart from having financial transaction information also have other information that is needed by the organization such as the corporate name, an address which is grouped according to some basic requirement or other similarities that the corporate customers share together.

 

This will allow the sales team and sales manager that needs information about their corporate customer to have them.

 

 

When sale and account department of a CCE are integrated in such a way that have uniform database about the organization, it will allow them to monitor some basic information such as the customer purchasing patterns and use that information to predict what customers are likely to buy in the future.

 

 

SUMMARY
At the end of this chapter, we have been able to discover that:

• Leads are people that are likely to be interested in your products or services.
• Some of the basic things that you need to know about your leads include the capture of lead information, details of things to capture, what qualifies a lead, lead allocation
• We also discover that Account Management are applications that are needed to handle individual corporate accounts and manage how corporate customers in the organization are faring.

 

Brainstorming Session

1. What is lead Management?
2. What is the function of Lead management?
3. Discuss Account Management.

Do you enjoy this article, add Our Posts to your Reading List.

Action Point
PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include staff of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.

I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.

CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

 

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease, you should try it out too